Slovakia picks banks to advise on sale of Telekom 49 pct stake

PRAGUE, July 17 The Slovak government has
mandated JP Morgan and Citigroup to advise on the
sale of its 49 percent stake in Slovak Telekom, a unit of
Deutsche Telekom, a spokeswoman said on Thursday.

The government is planning to float the stake in the mobile
and fixed-line operator in London and Bratislava unless Deutsche
uses its right of first refusal.

The government said in its 2015 budget outlook that the sale
could bring in about 1 billion euros, equal to around 1.3
percent of the central European country's gross domestic
product.

"The valuation process has started ... we have the ambition
to realise the sale by the end of the year, either through an
IPO (initial public offering) or directly (to Deutsche)," Slovak
Economy Ministry spokeswoman Miriam Ziakova said.

"It depends on what the banks offer us. At the moment the
situation in the market is such that IPO would be much more
favourable ... Or if Deutsche is interested to buy all the
shares, that option is still here."
(Reporting by Robert Muller; writing by Jan Lopatka; editing by
Jane Baird)

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